Is Trump relying on American consumers to save the economy from recession?
WASHINGTON - As President Trump considers tax cuts to bolster a weakening economy and his reelection prospects, the financial wild card may be the American consumer.
Consumer spending of late has outperformed expectations, compensating for the softness in business investments, manufacturing and net exports due largely to Trump's trade war with China.
"The consumer continues to be the Atlas holding up the economy," said Jack Kleinhenz, chief economist for the National Retail Federation.
But for how long?
The United States this summer broke the record for the longest economic expansion. Many economists, however, now see a recession - typically defined as two or more consecutive quarters of
